Mayo Investment Advisers LLC Reduces Holdings in Cisco Systems, Inc. (CSCO)

Mayo Investment Advisers LLC decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 33.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 199,188 shares of the network equipment provider’s stock after selling 101,560 shares during the period. Cisco Systems comprises approximately 2.5% of Mayo Investment Advisers LLC’s portfolio, making the stock its 20th largest position. Mayo Investment Advisers LLC’s holdings in Cisco Systems were worth $6,235,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CSCO. Dowling & Yahnke LLC grew its stake in shares of Cisco Systems by 0.3% during the first quarter. Dowling & Yahnke LLC now owns 210,778 shares of the network equipment provider’s stock worth $7,124,000 after purchasing an additional 681 shares in the last quarter. Lourd Capital LLC grew its stake in shares of Cisco Systems by 16.1% during the first quarter. Lourd Capital LLC now owns 19,244 shares of the network equipment provider’s stock worth $650,000 after purchasing an additional 2,670 shares in the last quarter. Verity & Verity LLC grew its stake in shares of Cisco Systems by 5.2% during the first quarter. Verity & Verity LLC now owns 241,712 shares of the network equipment provider’s stock worth $8,169,000 after purchasing an additional 11,972 shares in the last quarter. Greenleaf Trust grew its stake in shares of Cisco Systems by 1.2% during the first quarter. Greenleaf Trust now owns 35,247 shares of the network equipment provider’s stock worth $1,191,000 after purchasing an additional 417 shares in the last quarter. Finally, Cedar Wealth Management LLC grew its stake in shares of Cisco Systems by 3.0% during the first quarter. Cedar Wealth Management LLC now owns 12,785 shares of the network equipment provider’s stock worth $432,000 after purchasing an additional 370 shares in the last quarter. Institutional investors and hedge funds own 75.79% of the company’s stock.

In other news, CAO Prat Bhatt sold 25,638 shares of the company’s stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $821,954.28. Following the completion of the sale, the chief accounting officer now directly owns 119,996 shares of the company’s stock, valued at $3,847,071.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Karen Walker sold 5,786 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total transaction of $211,131.14. Following the completion of the sale, the senior vice president now directly owns 176,418 shares of the company’s stock, valued at $6,437,492.82. The disclosure for this sale can be found here. Insiders sold 493,530 shares of company stock valued at $16,993,798 over the last ninety days. Corporate insiders own 0.05% of the company’s stock.

Shares of Cisco Systems, Inc. (CSCO) opened at $37.41 on Thursday. Cisco Systems, Inc. has a 1 year low of $29.32 and a 1 year high of $38.03. The firm has a market cap of $184,446.55, a price-to-earnings ratio of 17.19, a P/E/G ratio of 3.37 and a beta of 1.19. The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The business had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $12.11 billion. During the same period in the prior year, the company earned $0.61 earnings per share. The business’s revenue was down 1.7% compared to the same quarter last year. equities analysts predict that Cisco Systems, Inc. will post 2.21 EPS for the current year.

A number of brokerages recently commented on CSCO. Vetr downgraded shares of Cisco Systems from a “hold” rating to a “sell” rating and set a $35.93 target price for the company. in a research note on Wednesday, November 29th. Credit Suisse Group reiterated a “buy” rating on shares of Cisco Systems in a research note on Thursday, August 10th. Sanford C. Bernstein reiterated an “outperform” rating and set a $38.00 target price on shares of Cisco Systems in a research note on Sunday, August 20th. BMO Capital Markets reiterated a “hold” rating and set a $32.00 target price on shares of Cisco Systems in a research note on Thursday, September 28th. Finally, Robert W. Baird reiterated a “buy” rating and set a $41.00 target price on shares of Cisco Systems in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $36.90.

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About Cisco Systems

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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